This is 'work-life balance part 2'.
1. Downshifting means living the working life not that fast anymore. You have changed gears. Consider downshifting as a politically correct term for 'changing jobs' for older people.
2. Why downshift? A moment comes in your life when you feel you have done your share of the grind (work hard, make money). You have had enough of the proverbial rat race.
3. It is not just tiredness. Maybe you want see more of your family, be involved. Maybe your values have evolved and you want to have it different.. Maybe they were different all this while, and you have had enough of riding roughshod over them.
4. The final push comes when we find we have aged so much, finding most of life has passed us by and that we don't have much time left. The final push also comes we know we will do well- we have the funds, we have good friends, and we have alternate ways to find sustainance easily.
5. The best practices for downshifting:
- Involve your family (the people who will be affected very much) in your decision to downshift. After all, you can't hide things from your closed one all the time.
- Go through your short-term and long-term financial situation in detail: Look for ways to reduce monthly expenses (smaller house?), without cramping the family's lifestyle as much as possible. Also let go of things you no longer need personally.
- List other opportunities to make money: Think about sources of passive income (rent is a popular one), for example.
- Think thrice before you decide to leave the company altogether: Consider other alternatives before you do the drastic- free agent, reduced working hours, flexible working hours, work from home, and so on.
- Make an action plan and schedule: When you will let the bosses know, when you will start a side gig, when you will tell your family, and so on.
Thank you for reading.
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